The Clovis City Council has passed new regulations meant to help its financially struggling casino, the 500 Club, expand with the hope it will generate more tax revenue for the city.
In November, the city will adopt a new fee structure that shifts from a percentage-based commission on gaming gross revenue to a flat rate of $35,000 per table per year. This change will provide the city with a more stable income and incentivize casinos to expand their businesses, according to a city resolution.
The proposal was brought to the council by the city’s sole licensed card room, the 500 Club Casino… The casino has faced years of declining revenue since the pandemic while paying a substantial licensing fee of up to 10% of its gaming income in recent years.
